Automated Platform Enables Company to Triple Year Over Year Growth While Improving Operating Efficiency
ATLANTA – October 5, 2015 – Kabbage Inc., the leading technology and data platform powering automated small business lending, is now extending more than $5 million per day to small businesses. The company achieved this milestone less than six months after reaching $3 million funded to businesses daily, and is set to triple its annual loan volume for the second year in a row.
Kabbage’s rapid growth trajectory is driven by its lending platform – the only fully automated technology platform in the industry. This platform allows the company to rapidly increase loan volumes with a much lower increase in marketing spend, headcount and other operating expenses than its peers. The company grew its loan volume by 60% from the first quarter of 2015 to the third quarter, while only increasing marketing spend by 34% during the same period.
“From the moment customers apply and are approved, to our …